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Get the international dealings schedule instructions
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Using the international dealings schedule?
Use these instructions to help you complete the International dealings schedule 2024.
When we say you, your business or taxpayer in these instructions, we mean either:
- you as a business entity – for example, a company, trust or partnership that conducts a business
- you as the tax agent or public officer responsible for completing the schedule.
The international dealings schedule (IDS) forms part of your company, trust or partnership entity's tax return. If you report certain amounts or otherwise answer Y to trigger questions in your tax return you will also need to complete the IDS.
These instructions are not a guide to income tax law. The examples in these instructions only illustrate how the schedule should be completed and should not be relied on for technical guidance. If you feel that these instructions don't fully cover your circumstances, you should contact us or a recognised tax adviser.
For details about the personal information we collect from you, see Privacy notice – International dealings schedule.
We welcome your feedback for this schedule and will consider it in future versions of the schedule. To provide this feedback, you can:
- email idsproject@ato.gov.au
- lodge a paper tax return and include a covering letter with your schedule.
We issue public rulings setting out our policies on the taxation aspects of international related party dealings. It is recommended that if you had any international related party dealings, you should be familiar with these rulings. Those public rulings and guidance include:
- Taxation Ruling TR 2010/7 Income tax: the interaction of Division 820 of the Income Tax Assessment Act 1997 and the transfer pricing provisions
- Taxation Ruling TR 2014/6 Income tax: transfer pricing – the application of section 815-130 of the Income Tax Assessment Act 1997
- Taxation Ruling TR 2014/8 Income tax: transfer pricing documentation and Subdivision 284-E
- International tax for businesses
- Organisation for Economic Co-operation and Development's (OECD) Transfer pricing guidelines for multinational enterprises and tax administrations – 2017. You can buy a copy at OECD iLibraryExternal Link.
Who must complete an IDS
You must complete an International dealings schedule 2024 if you have written an amount or Y (for yes) at any of the listed labels (also called trigger points or trigger questions) in your tax return:
- Company tax return 2024
- Partnership tax return 2024
- Trust tax return 2024
- Attribution managed investment trust (AMIT) tax return 2024
- Attribution CCIV sub-fund tax return 2024
Company tax return 2024
Complete the International dealings schedule 2024 if you have written an amount or Y (for yes) in your company tax return at:
- Question 6 Calculation of total profit or loss:
- label J Interest expenses overseas
- label U Royalty expenses overseas
- Question 7 Reconciliation to taxable income or loss
- label C Section 46FA deductions for flow-on dividends
- Question 27 International related party dealings/transfer pricing
- label Y Was the aggregate amount of the transactions or dealings with international related parties (including the value of property transferred or the balance outstanding on any loans) greater than $2 million?
- Question 28 Overseas interests
- label Z Did you have overseas branch operations or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?
- Question 29 Thin capitalisation
- label O Did the thin capitalisation provisions affect you?
Partnership tax return 2024
Complete the International dealings schedule 2024 if you have written an amount or Y (for yes) in your partnership tax return at:
- Question 22 Attributed foreign income
- label S Did you have overseas branch operations or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?
- Question 29 Overseas transactions
- label W Was the aggregate amount of your transactions or dealings with international related parties (including the value of any property or service transferred or the balance of any loans) greater than $2 million?
- label O Did the thin capitalisation provisions affect you?
- label D Interest expenses overseas
- label E Royalty expenses overseas.
Trust tax return 2024
Complete the International dealings schedule 2024 if you have written an amount or Y (for yes) in your trust tax return at:
- Question 22 Attributed foreign income
- label S Did you have overseas branch operations or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?
- Question 29 Overseas transactions
- label W Was the aggregate amount of your transactions or dealings with international related parties (including the value of any property or service transferred or the balance of any loans) greater than $2 million?
- label O Did the thin capitalisation provisions affect you?
- label D Interest expenses overseas
- label E Royalty expenses overseas
Attribution managed investment trust (AMIT) tax return 2024
If any of the following apply, you must lodge an International dealings schedule 2024.
At Overseas transactions/thin capitalisation on the AMIT tax return, you:
- answered Yes at either of the questions about overseas transactions or thin capitalisation, or
- included an amount for overseas interest or royalty expenses.
Lodging the IDS for separate AMIT classes
Lodge only one international dealings schedule for the AMIT, including where you have made an election to treat classes as separate AMITs (elective multi-class AMITs).
Attribution CCIV sub-fund tax return 2024
If any of the following apply, you must lodge an International dealings schedule 2024.
At Overseas transactions/thin capitalisation on the Attribution CCIV sub-fund trust tax return, you:
- answered Yes at either of the questions about overseas transactions or thin capitalisation, or
- included an amount for overseas interest or royalty expenses.
Don't complete the IDS on an aggregated CCIV basis.
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